The latest demand equation for your gaming website is given by p = 4 +3 where q is the number of users who log-on per month and p is the log-on fee you charge. Your internet provider bills you as follows: Site maintenance fee: $20 per month; Access fee: 50¢ per log-on a). Find the average cost, the marginal cost, the marginal revenue, and the marginal profit, (all in terms of q). Include units and interpret. b). Use calculus to determine the largest possible monthly profit. Interpret.

The latest demand equation for your gaming website is given by p = 4 +3 where q is the number of users who log-on per month and p is the log-on fee you charge. Your internet provider bills you as follows: Site maintenance fee: $20 per month; Access fee: 50¢ per log-on a). Find the average cost, the marginal cost, the marginal revenue, and the marginal profit, (all in terms of q). Include units and interpret. b). Use calculus to determine the largest possible monthly profit. Interpret.

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Concept explainers

Equations and Inequations

Equations and inequalities describe the relationship between two mathematical expressions.

Linear Functions

A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.

Question

7. The latest demand equation for your gaming website is given by p = 4 + 3 where q is the number of
400
users who log-on per month and p is the log-on fee you charge. Your internet provider bills you as follows:
Site maintenance fee: $20 per month;
Access fee: 50¢ per log-on
a). Find the average cost, the marginal cost, the marginal revenue, and the marginal
profit, (all in terms of q). Include units and interpret.
b). Use calculus to determine the largest possible monthly profit. Interpret.

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